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FX Price Signal Summary: USDBRL Trend Condition Remains Bullish

  • USDMXN has been volatile. On Wednesday, the pair traded sharply higher to 20.8867 before reversing lower and giving back the day's gains. The break this week of 20.7488, Jun 18 high is positive though and despite the pullback, suggests the current direction remains up. The focus is on 20.9695 next, Mar 24 high . Support is seen at 20.4123, the Oct 1 low.
  • The USDBRL uptrend remains intact. The pair has this week confirmed a break of 5.4741, Aug 20 high. This confirms a resumption of the uptrend that started Jun 25 and opens the 5.60 handle and 5.6428, 76.4% of the Mar - Jun downleg. Initial firm support has been defined at 5.3534, Oct 1 low.
  • {CL} USDCLP is holding onto recent gains and the bull trend remains firmly intact. The pair has cleared former key resistance at 795.73, Aug 9 high, maintaining the bullish price sequence of higher highs and higher lows. The focus is on 825.13, Jun 19, 2020 high. Firm short-term support lies at 798.48, the 20-day EMA.

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